Thailand considers VAT rise to 8%
The Bangkok government is again considering a rise in its Value Added Tax rate from 7% to 8%.
Thailand’s VAT rate has been held at the ‘temporary’ lower 7% rate for a number of years, and come under the spotlight once a year. Whilst Thailand has one of the lowest consumption tax rates in the world, the economy is still considered too fragile to take a rise in the tax rate.
There are number of large infra-structure projects underway at the moment, and their completion may be considered an ideal time to increase the rate.